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ENDOCYTE INC

No Longer Reporting

The company has not filed an annual or quarterly report since its Q3 FY2018 10-Q, filed Nov 8, 2018. Its latest SEC filing is a SC 13G/A from Feb 14, 2019.

The sections below describe the company as of the FY2017 annual report.

What Did They Do?

Develops targeted cancer drugs and companion imaging agents, including radioligand therapies and adaptor-controlled immune-cell treatments, for people with cancer.

How Did They Make Money?

Past revenue came from upfront license payments and collaboration agreements. Upfront amounts could be spread across research work, development milestones were tied to reaching milestones, and sales milestones and royalties were tied to sales; the company says those agreements have ended, leaving revenue from an earlier NMP upfront payment.

FY2016 revenue

Who Were Their Customers?

Licensees and research collaborators paid under agreements for intellectual-property rights and research services; the company says all of its collaboration agreements have ended.

Did Revenues Turn Into Profits?

No. It lost $43.9M in FY2016.

Operating income, FY2016
−63886% of revenue
▲ +7% (Loss) vs FY2015 (−$42M, −59961%)
Net income, FY2016
−62697% of revenue
▲ +6% (Loss) vs FY2015 (−$41.3M, −58957%)

How Were They Changing?

Since the FY2017 annual report
Latest quarter: Q3 FY2018, the three months to Sep 30, 2018
Revenue
▲ +164%
vs $32.5K in Q3 FY2017
Net income
▼ −46% (Loss)
vs −$23.3M in Q3 FY2017
  • Dec 21, 2018 Novartis completed its acquisition of Endocyte Endocyte became a wholly owned Novartis subsidiary; issued shares converted into a right to receive $24.00 in cash per share.

Shrank. Revenue fell 100% in 4 years, from $34.7M in FY2012 to $70K in FY2016, about 79% a year.

A narrower treatment focus The older portfolio covered folate-targeted drug conjugates and inflammatory diseases; the latest report centers on a PSMA-targeted radioligand therapy and a proof-of-concept immune-cell program, while seeking partners for other programs.

Who Did They Compete With?

Competes with Adaptimmune Therapeutics, Affimed, AstraZeneca, Atara Biotherapeutics, Atridia, Autolus, Bayer, Bellicum Pharmaceuticals, BioNTech, Bluebird Bio, Cancer Targeted Technology, Celgene, Cellectis, Celyad, Editas Medicine, ESSA Pharma, Gilead Sciences, GlaxoSmithKline, Immatics Biotechnologies, and Immunocore

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